Medicaid Nursing Home Spend-Down Program: 5 years Review

Seventy Seven million euro (77 million) middle class aging baby boomers rely on Medicare as their health policy failure of the long term. The Cato Institute estimates that 60 trillion U.S. dollars Medicare is an unfunded, unaccounted for obligation .*

Medicare / Medicaid dual eligibility programs are government programs for the elderly, blind and disabled users and serious long-term care for the poor poorer. Medicaid is the largest budget responsibilitycrowned elementary and secondary education. For 2003, total spending for Medicaid in most states 267 billion U.S. dollars. Of which is financed nursing home care and Medicaid account for about $ 51000000000 $ 9.9billion in home care .*

The new tax cut law Act of 2005 requires that the activities to spend all his seniors combined before the sick spouse at home to a nursing home to qualify. The law requires a 5-year review of all transfers to the elderly developeddeprive the state of resources available to pay for care services at home.

WHAT 'THE HOME SHOPPING-down?

Spending is down-determination, which "will have to pay for your nursing home, by selling all of your real and personal assets to the point of financial devastation of your life savings Continued eligibility is specifically intended to be in a nursing home is not monetized by their lack of resources/ Punishing impoverish the healthy spouse.

WHY IS IT IMPORTANT Medicaid estate planning?

The problem with the 5 year look back provision is that the new Medicare rules do not consider the healthy spouse. It is a social punishment, the marriage certificate. This is a new social discrimination on health. Finally, the elderly will be forced to choose divorce for the sake of preserving their financial dignity.

And the Medicaid-HEALTH CARE HAPPENINGSYSTEM?

The gross mismanagement of the baby boomers social security are seriously thinking about the strength of their long-term health care. You will get the money for the time baby boomers retire. Health care is increasing at an alarming rate. Government planners have realized five years which can save 10 billion U.S. dollars over the next 5 years by increasing the look back provision from 3 years.

WHAT 'A year LOOK BACK TO THE 5HOME NURSING PROGRAM?

Before the program qualify for the home, nursing care of the government, there are 60 months in the past one, see if and when you have transferred assets in the fair cash value of less, or the transfer of resources in a system of trust or a system to transfer assets for becoming the program's home will deprive the state of all resources available for your long-term health .**

SOCIALCHANGE hand on Home Equity

According to the National Council of maturation, 81% of American households, 13.2 million 62 years and over own their home. Seventy-four (74%) of the same old people from their homes free and clear. Overall, the elderly almost $ 2trillion value of their home equity .* You have to hand the government to help you understand how to spend it.

They want to use the equity in your home to take care of paying for your own long-term health! They areTo go that sponsored it very easy for you to borrow against or "reverse mortgage" How to create a new reverse mortgage industry by the government. On the basis of this perceived wealth, it will not be long before government regulations mandate to look back 10 years to transfer best in 20 years for real estate.

WHAT'S 'reverse mortgage?

A Reverse Mortgage (RM) is a special type of loan you can get when it is at least 62 years (ifmarried, the youngest of the 62 at least) and your house, condo, or co-op. A Reverse Mortgage (RM) converts a portion of the value (equity) of a house in cash while. The main feature of this program is that you do not get qualified for credit on the loan.

The money borrowed may be in a sum, his monthly payment, line of credit or any combination. The Reverse Mortgage is a non-recourse loan. There is no personal liability for the borrower, their property, ortheir heirs. The house is the only collateral to the borrower does not have all the monthly payments, has been reversed, the bank pays you.

What is, is that the low-interest loan is calculated on the accrued and connections to itself the amount of equity to accelerate away from home, not to mention the extravagant alternative forced taxes if there is no other. What is wrong with Reverse Mortgage is that the dignity of the elderly financial evaporate quickly,before their eyes.

Now, what can be done to extend the mandate of government confiscation of Medicaid nursing HOME SPEND-program?

Good planning is done when the sea is calm, it is often too late, when the sea is rough. It has become clear that the government has on their financial income and created more money with printing presses. Being myself boom, I do not like it when big brother has plans for my income and accumulated wealth.

The more money you throwwith them, they want more, there is a black hole of the universe. If the government wants us to buy our own health care in the long term, then why not make tax-deductible. Why on Form 1040 heath care costs are more than 7.5% of adjusted gross income. Why not tax deductions for long-term care insurance 100% tax deductible, or, better yet, why not make it accessible.

* Source: Stephen A. Moses, Cato Institute, Policy Analysis, No. 549, Medicaid Aging America's Achilles 'heel' long-termCare.

** Transfer of goods at a lower price to the cash value is fair to say the transfer of your home your child to $ 100.00 available as a gift exclusion person compared to $ 12,000 per year permit, or because it is a fraudulent transfer . See "709 tax return for the gift tax consequences, see your lawyer how to avoid fraudulent conveyance, or call 888-93ULTRA Rocco Beatrice (888-938-5872) for a free consultation.

bakechickenfood carfinance loandebtconsolidation